Catalyst Financial Partners LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Catalyst Financial Partners LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 4.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 23,549 shares of the information services provider’s stock after buying an additional 1,079 shares during the quarter. Alphabet accounts for approximately 0.9% of Catalyst Financial Partners LLC’s portfolio, making the stock its 19th largest holding. Catalyst Financial Partners LLC’s holdings in Alphabet were worth $3,290,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. BLB&B Advisors LLC lifted its position in shares of Alphabet by 2.9% during the 3rd quarter. BLB&B Advisors LLC now owns 140,422 shares of the information services provider’s stock valued at $18,376,000 after buying an additional 4,013 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co lifted its holdings in Alphabet by 63.7% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 31,050 shares of the information services provider’s stock valued at $4,063,000 after purchasing an additional 12,080 shares during the last quarter. Wealth Management Partners LLC boosted its position in Alphabet by 10.6% during the third quarter. Wealth Management Partners LLC now owns 3,205 shares of the information services provider’s stock worth $419,000 after purchasing an additional 306 shares during the period. Segment Wealth Management LLC increased its stake in shares of Alphabet by 18.7% in the third quarter. Segment Wealth Management LLC now owns 10,884 shares of the information services provider’s stock worth $1,424,000 after purchasing an additional 1,715 shares in the last quarter. Finally, Strategic Investment Advisors MI lifted its stake in shares of Alphabet by 1.6% during the 3rd quarter. Strategic Investment Advisors MI now owns 57,970 shares of the information services provider’s stock valued at $7,586,000 after buying an additional 916 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $143.08, for a total value of $3,219,300.00. Following the transaction, the chief executive officer now directly owns 2,355,191 shares of the company’s stock, valued at approximately $336,980,728.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $143.08, for a total value of $3,219,300.00. Following the completion of the transaction, the chief executive officer now owns 2,355,191 shares of the company’s stock, valued at approximately $336,980,728.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. Insiders have sold a total of 254,011 shares of company stock worth $37,337,245 over the last 90 days. 0.88% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GOOGL. Piper Sandler reissued an “overweight” rating and set a $200.00 target price (up previously from $160.00) on shares of Alphabet in a report on Friday, April 26th. Wedbush raised their target price on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Argus upped their price target on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Wolfe Research raised their price objective on shares of Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Citigroup upped their target price on shares of Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $190.60.

Read Our Latest Stock Analysis on GOOGL

Alphabet Stock Performance

Shares of GOOGL stock opened at $170.34 on Wednesday. The company’s fifty day moving average price is $154.03 and its 200-day moving average price is $143.91. The stock has a market cap of $2.11 trillion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.30 and a beta of 1.02. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $174.71.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter last year, the firm earned $1.17 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 7.57 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%.

About Alphabet

(Free Report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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